Disentangling the Channels of the 2007-2009 Recession

By James H. Stock, Mark W. Watson. 2012

996 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7cc549bd48864695b9cb5e493d9f398ff662edae

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Citations in the corpus

World Asset Markets and the Global Financial Cycle (2015, methodology): “…detailed description of the BVAR, estimation and priors utilized, is reported in Appendix C at the end of the paper. etary policy shock that is instead identified using the proxy variable procedure discussed in Merten and Ravn (2013) BIB and Stock and Watson (2012) BIB and summarized in Appendix D.”
Economic uncertainty and bank risk: Evidence from emerging economies (2020, neutral): “…input prices, the number of our observations is reduced considerably due to the limitation of data. represents the time effect.22 As recommended by Tabak et al. (2012), estimating a single frontier for all banks across countries allows for the comparison of the X-efficiency item, νijt, against…”
U.S. Monetary Policy and the Global Financial Cycle (2020, methodology): “Identification of U.S. monetary policy shocks We identify U.S. monetary policy shocks using an external instrument (Stock and Watson, 2012, 2018; Mertens and Ravn, 2013).”
Delphic and odyssean monetary policy shocks: Evidence from the euro area (2018, methodology): “Our estimation strategy relies on instrumenting the reduced-form VAR residuals with our high-frequency observable measures of exogenous monetary policy shocks as in Mertens and Ravn (2013) and Stock and Watson (2012).”
Identifying Uncertainty Shocks Using the Price of Gold (2018, positive): “…the exclusion restrictions implied by the recursive identification have received substantial criticism, because they impose that no other structural shock contemporaneously affects the variables affected contemporaneously by the uncertainty shock (see Stock and Watson, 2012; Baker and Bloom, 2013).”
Tracking the Slowdown in Long-Run GDP Growth (2017, methodology): “…of the model for short-term forecasting of euro-area GDP. Acknowledging the importance of allowing for time variation in the means of the variables, Stock and Watson (2012) prefilter their data set in order to remove any low-frequency trends from the resulting growth rates using a biweight local…”
Local Projections vs. VARs: Lessons From Thousands of DGPs (2021, methodology): “For IV identification, we further distinguish between internal IV methods (Ramey, 2011; Plagborg-Møller & Wolf, 2021) and external IV methods (Stock, 2008; Stock & Watson, 2012; Mertens & Ravn, 2013).”
How Does Monetary Policy Affect Income and Wealth Inequality? Evidence from Quantitative Easing in the Euro Area (2018, methodology): “To estimate the effects of quantitative easing, we identify a QE shock by means of an external instrument approach (Stock, 2008; Stock and Watson, 2012; Mertens and Ravn, 2013; Ramey, 2016; Miranda-Agrippino and Ricco, 2019; Montiel Olea et al., 2021; Jentsch and Lunsford, 2019).”
Estimating the Real Effects of Uncertainty Shocks at the Zero Lower Bound (2017, positive): “Stock and Watson (2012) point out that nancial strains lead to higher uncertainty, which in turn increases nancial risk.”
Asymmetric impact of renewable and non-renewable energy on economic growth in Pakistan: New evidence from a nonlinear analysis (2020, background): “The long-run relationship based on optimal lags and stock claimed by (BahmaniOskooee and Bohl, 2000) and, using too many lags or fewer can be lost the important information or may cause the inacceptable estimation by (Stock and Watson, 2012).”